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Causes of the recent current account deficit in the USA

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Please help with the following problem involving economics. In 200-300 words, answer the following questions about the current US economic situation

- What has caused the current account deficit of the USA in recent history?
- Why is this a serious problem?

This is for a 400 level course so an intelligent thought out response is expected

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Solution Summary

This solution helps with a problem involving economics and employment. It discusses what caused the current account deficit in the US and why it is a serious problem. The solution is provided in 298 words.

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Please see the attached Word document with your answer.

Problem:
In 200-300 words, answer the following questions about the current US economic situation

- What has caused the current account deficit of the USA in recent history?
- Why is this a serious problem?

Solution:
Before I delve into this question, I thought it would be a good idea to explain what exactly is the current account? The standard definition of current account is as follows: ...

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